Federal currency reporting laws require financial institutions to report the receipt in a
single transaction or a series of related transactions of cash in an amount greater than
$5,000.
The infancy doctrine protects very young children from contracts entered into on their
behalf by their parents.
The Securities and Exchange Commission has no legal authority to bring an action to
obtain an injunction.
Proceedings before administrative law judges are conducted without a jury.
A royalty fee is a fee for the continued use of the franchisor’s trade name, property, and
assistance that is often computed as a percentage of the franchisee’s gross sales.
A commercial unit is a unit of goods that commercial usage deems is a single whole for
purpose of sale.
Substantial risk is associated with the loss or theft of bearer paper
To be sufficient under the Statute of Frauds, a writing must be signed by both parties to
the contract.
A principal’s liability for the tort of an agent depends on the degree of disclosure of the
agency relationship.
Goods produced in mass production are identified when the merchant ships the specific
quantity ordered.
In Gonzales, Attorney General v. Oregon, the court invalidated a United States Attorney
General-issued interpretive ruling citing physicians as violating the Controlled
Substances Act by dispensing prescription drugs to assist in patient suicides.
Not all affirmative action plans enacted by private employers are illegal.
The Koran is one source from which Islamic law was developed.
A majority vote of existing EU members is needed to admit a new member.
Price discrimination is not unlawful if it is done to meet a competitor’s price.
A limited partnership has two (2.) types of partners: 1.) general partners; and 2.) limited
partners.
The Equal Pay Act was originally written to prohibit racial discrimination in pay.
Illegal strikers may be discharged by the employer, but they have legal rights to
reinstatement.
Workers’ compensation is a non-exclusive remedy.
Under a destination contract, the title passes to the buyer at the time and place of
shipment.
Private parties may not intervene in public antitrust actions brought by the government.
The implied warranty of merchantability applies to the box as well as the breakfast
cereal inside the box.
The judicial branch has authority to examine the propriety of actions by both the
legislative branch and the executive branch.
Unless otherwise provided in the operating agreement, a transfer of an interest in a
limited liability company does not entitle the transferee to become a member of the
LLC or to exercise any right of a member.
The following elements must be established to create an express contract: 1) The
plaintiff provided property or services to the defendant; 2) The plaintiff expected to be
paid by the defendant for the property or services and did not provide the property or
services gratuitously; and 3) The defendant was given an opportunity to reject the
property or services provided by the plaintiff but failed to do so.
If there is an ambiguity in a contract, the ambiguity will be resolved against the party
who drafted the contract.
After a decade of lobbying by bankrupt debtors, the United States Congress enacted the
Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.
A blank indorsement does not specify a particular indorsee.
Any law (whether federal, state, or local) that conflicts with the United States
Constitution is unconstitutional and, therefore, unenforceable.
The judge sits as the trier of fact in nonjury trials.
According to the felony murder rule, the intent to commit the murder is inferred from
the intent to commit the other crime.
Incidental third-party beneficiaries may be classified as either donee or creditor
beneficiaries.
A threat by an employer of the loss of a benefit for joining a union is an unfair labor
practice.